Vivo — a Chinese technology company that designs and develops smartphones, smartphone accessories, software, and online services — intends to increase its investments in the Egyptian market by 80 percent over the coming two years to reach $30 million through Vivo Egypt, said CEO of Vivo Egypt Alex Zhan.
Vivo Egypt started operation in the Egyptian market in 2019.
Zhan’s statements came as an answer to Ahram Online’s question on the future plans of the company in the Egyptian market during a press conference held virtually on Tuesday to launch its new devices V21 and V21e smartphones.
He noted that the company also targets increasing its market share in Egypt to reach 10 percent in 2022, adding that the efforts that Egypt’s government is doing in the communication and telecom sector help the sector to growth faster, despite the challenges posed by the COVID-19 pandemic.
He also said that the smartphones industry is witnessing a rapid growth in the Egyptian market.
Zhan said that Vivo’s smartphone sales recorded 111.7 million units in 2020, up to 5 percent of which were sold in the Egyptian market.
He added that Egypt ranks seventh regarding company sales globally.
“Vivo believes that Egypt is a highly potential market, hence; we’re adopting coherent strategies to achieve greater achievements in this vibrant market across the coming few years, with an ultimate focus on catering for our consumers’ needs. We are proudly launching the V21 and V21e that have been leveraged through our 10 research and development centres that work on cutting-edge technologies, and we’re looking forward to more launches that can further enhance our consumers’ experience,” Zhan explained.
During the press conference, Vivo Egypt’s PR and Communication Manager Wafia El-Badry said that the company plans to expand its distribution net in Egypt to include 5,000 dealers by the end of 2021, up from 3,000.
She added that the company’s customer base is nearly 400,000 consumers across more than 10 governorates across Egypt, adding that it is currently acquiring an extended network of 3,000 dealers and five after sales service centres.
“Through the designated expansion strategies, Vivo strives to achieve 300 percent sales growth during the next three years. We are also looking forward to empowering the Egyptian community through offering between 3,000 to 5,000 job opportunities nationwide,” according to El-Badry.